The property owners and guardians have given post-dated cheques for the remaining amount, which will be drawn in equal installment in the next two months. Mall of Mysore, which has multiplexes and shops, has to pay Rs 80 lakh tax every year, while EAK has to pay Rs 17 lakh tax. Both had defaulted.

"A fortnight ago, Mall of Mysore owner had paid 25% of tax. On Monday, he paid another 25%," said Byrappa.

Even Garuda Mall, which owed Rs 3 crore tax, has paid Rs 37 lakh tax, and promised to pay the rest in equal installments once in three months, the committee chief added.

Meanwhile, the committee held a meeting with major water consumers who owe over Rs 20 lakh tax to MCC on Monday. Byrappa said that they will be forced to disconnect water supply if they failed to pay the dues.

BANGALORE: Led by the IT industry's need for large office spaces, Bangalore is on the verge of crossing the milestone of having over 100 million sqft of leased A-grade office space. It will be the first Indian city to hit that figure, and is expected to do so by March this year.

BANGALORE: Online real estate portal CommonFloor has raised Rs 64 crore in its fourth round from existing investors Tiger Global and Accel Partners. Last July, the Bangalore-based company had raised about $7.5 million (over Rs 45 crore) from the same investors.

BANGALORE: Online real estate portal CommonFloor has raised Rs 64 crore in its fourth round from existing investors Tiger Global and Accel Partners. Last July, the Bangalore-based company had raised about $7.5 million (over Rs 45 crore) from the same investors.

BANGALORE: ASK Property Investment Advisors (ASK PIA), part of the diversified financial service company ASK Group, will invest upwards of Rs 500 crore across multiple mid-market residential projects in India by the end of this calendar, said the group's chief executive.

BANGALORE: Today the real estate sector is focusing on providing all amenities and comforts in both Tier I and Tier II cities. It has acquired many aspects of development across its sub-sectors. The commercial realty sector has turned into smart and eco-friendly structures. The retail sector is rapidly growing with dense show stores at high-end market locations. They differentiate their stores by investing in innovative formats ranging from food, discounts to convenience stores. The residential

BANGALORE: India has witnessed a growth in its economy through the real estate. Over the last few decades, development has taken place majorly in the Tier I cities. These cities witnessed rapid growth and a spurt in urbanization that fuelled inflow of population from the countryside and smaller towns. These cities have already witnessed multi-storey buildings, sky scrapers, mega townships, luxury malls, hotels, premium residential properties and industrial growth.

BANGALORE: Around 20 years ago, Rajarajeshwarinagar in Bangalore west was a little-known area. Early homeowners found it a densely forested region with little security. Pan to 2014 and the very same neighbourhood is now a well-established residential locality.